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ACCOUNTING Paper 1 Multiple Choice with Marking Scheme Merged You must answer on the multiple choice answer sheet. You will need: Multiple choice answer sheet Soft clean eraser Soft pencil (type B or HB is recommended) 0985/12 $7.99
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ACCOUNTING Paper 1 Multiple Choice with Marking Scheme Merged You must answer on the multiple choice answer sheet. You will need: Multiple choice answer sheet Soft clean eraser Soft pencil (type B or HB is recommended) 0985/12
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Course
ACCOUNTING 0985 Paper 1
Institution
ACCOUNTING 0985 Paper 1
Which statements about book-keeping and accounting are correct?
1 Accounting is performed periodically rather than daily.
2 Accounting relies on having accurate book-keeping records.
3 Book-keeping includes the preparation of financial statements.
4 Book-keeping involves the recording of fi...
ACCOUNTING Paper 1 Multiple Choice with Marking Scheme Merged 0985/12
May/June 2024
1 hour 15 minutes
You must answer on the multiple choice answer sheet.
You will need: Multiple choice answer sheet
Soft clean eraser
Soft pencil (type B or HB is recommended)
INSTRUCTIONS
• There are thirty-five questions on this paper. Answer all questions.
• For each question there are four possible answers A, B, C and D. Choose the one you consider correct
and record your choice in soft pencil on the multiple choice answer sheet.
• Follow the instructions on the multiple choice answer sheet.
• Write in soft pencil.
• Write your name, centre number and candidate number on the multiple choice answer sheet in the
spaces provided unless this has been done for you.
• Do not use correction fluid.
• Do not write on any bar codes.
• You may use a calculator.
INFORMATION
• The total mark for this paper is 35.
• Each correct answer will score one mark.
• Any rough working should be done on this question paper.
This document has 12 pages. Any blank pages are indicated.
1 Which statements about book-keeping and accounting are correct?
1 Accounting is performed periodically rather than daily.
2 Accounting relies on having accurate book-keeping records.
3 Book-keeping includes the preparation of financial statements.
4 Book-keeping involves the recording of financial transactions.
A 1, 2 and 4 B 1 and 3 C 2, 3 and 4 D 2 and 4 only
2 What increases owner’s capital?
A bank loan extended from five to ten years
B purchase of inventory on credit
C purchase of machinery by cheque
D transfer of vehicle to business from private use
3 William paid $500 in cash to Sonia for rent.
How did Sonia record this?
account debited account credited
A cash rent receivable
B rent receivable cash
C rent receivable William
D William rent receivable
4 Abdul buys all his machinery on credit. He provided the following information.
at 30 April 2020 at 30 April 2021
$ $
machinery at cost 30 000 42 000
amounts owing to suppliers of machinery 19 000 ?
During the year Abdul paid $25 000 to the suppliers of his machinery.
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